AP, Sorry to hear about your story--novices usually do break the #1 rule of money and investing, which is: "Think with your head, not your heart. " Believe it or not--some folks who walk on the shady side of investing/speculation actually rely on that "novice thought process" to make lots and lots of money. Guilt over the situation is not going to solve the problem--its water under the bridge (you're certainly deserving of a very short Pity Party, but try to dispense with it as quickly as possible so you can start concentrating on finding a solution). From what I've read, you really need to do some reading (about real estate and mortgages) and seek some solid professional financial advice quickly. Hopefully you can find a good finanical advisor, RE attorney, or CPA (maybe check with some doctors you trust) -- and make sure they don't steer you toward some snake oil salesman who is trying to sell annuities or whole life insurance (don't get me started on those folks! :roll: ). Most folks are getting out from under IO loans by refinancing to a fixed, but it sounds as if this may not be an option for you. I applaud your courage in speaking up about your situation--the first step to tackling a problem is to admit you're aware of it in the first place, so you see, you ARE on your way to solving it. I sincerely wish you luck as you go forward.